US rejects bid to buy Montana coal for less than a penny per ton
In this April 4, 2013, file photo, a mining dumper truck hauls coal at Cloud Peak Energy's Spring Creek strip mine near Decker, Mont. AP Photo/Matthew Brown, File)
BILLINGS (AP) — Federal officials rejected a company's bid to acquire 167 million tons of coal on public lands in Montana for less than a penny per ton, in what would have been the biggest U.S. government coal sale in more than a decade.
The failed sale underscores a continued low appetite for coal among utilities that are turning to cheaper natural gas and renewables such as wind and solar to generate electricity. Emissions from burning coal are a leading driver of climate change, which scientists say is raising sea levels and making weather more extreme.
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